POWER SECTOR: Hydropower shines and regulatory framework steadily takes shape
Posted: Jun 19, 2025
- Power consumption grow modestly in 2Q25, with the average growth rate for April–May reaching only ~1% yoy. In May 2025, EVN implemented another 4.8% electricity price hike, marking the fourth consecutive annual increase over the past three years.
- 2Q25 hydropower output is expected to recover from a low base last year, while renewable energy output remains flat yoy, and coal- and gas-fired power decreases yoy.
- We forecast NPAT-MI for companies under our power sector coverage may grow by 13% yoy in Q2/2025, with REE and HDG among the most notable outperformers.
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